Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum is currently trading in a period of subdued price movement, reflecting broader consolidation across the crypto asset market. At the time of writing, ETH is trading around $2,423, marking a slight 0.9% daily decrease and standing more than 50% below its all-time high of $4,878.
This stagnation has coincided with a broader lack of catalysts to drive a sustained rally, leaving traders cautious about Ethereum’s near-term trajectory. Despite this lack of price momentum, network activity on Ethereum tells a different story.
Ethereum On-Chain Metrics Point to Increased Network Engagement
According to CryptoQuant analyst Carmelo Alemán, the number of confirmed transactions on the Ethereum network recently spiked to 1,750,940, making it the third-highest daily transaction count in its history.
Alemán notes this trend may signal underlying usage strength, even as market participants wait for a more significant price response.
Alemán’s analysis focuses on Ethereum’s “Transaction Count (Total)” metric, which captures all forms of activity, including ETH transfers, smart contract executions, and interactions with decentralized applications and DeFi protocols.
The recent surge reverses a months-long downtrend and represents the highest transaction count since January 14, when Ethereum recorded 1.96 million transactions.
According to Alemán, this spike may be driven by increased arbitrage, trading activity, and interactions with Layer 2 networks, which continue to absorb substantial transaction volume. Platforms like Arbitrum and Optimism remain key contributors to Ethereum’s broader usage.
He further points out that, despite ETH price volatility within the $2,100–$2,880 range in recent weeks, the uptick in network traffic may hint at early-stage accumulation or renewed DeFi interest.
This dynamic, while not immediately reflected in the asset’s valuation, suggests that Ethereum’s core infrastructure continues to see meaningful use.
Speculative Behavior and Exchange Flows Raise Short-Term Concerns
Separately, another CryptoQuant analyst, Amr Taha, has examined Ethereum’s recent technical setup from a derivatives market perspective.
Taha highlights that ETH funding rates on Binance have shifted from negative to positive territory, a sign that leveraged long positions are building, which may reflect expectations of continued price upside. However, this shift also raises the potential for overextension, particularly if longs begin to dominate positioning.
Taha also references a recent retest of a key short-squeeze zone, during which market participants who had shorted ETH were forced to close positions, triggering rapid buy orders.
Such moves can generate short-term surges, but they’re often followed by correction phases once speculative energy fades. Meanwhile, exchange data showed more than 177,000 ETH deposited on Binance over three days, indicating potential sell pressure or repositioning by large holders.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
